Bulgartabac Holding AD (XBUL:BTH) ROCE % : -23.64% (As of Dec. 2016)

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What is Bulgartabac Holding AD ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Bulgartabac Holding AD's annualized ROCE % for the quarter that ended in Dec. 2016 was -23.64%.

Bulgartabac Holding AD ROCE % Historical Data

The historical data trend for Bulgartabac Holding AD's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Bulgartabac Holding AD ROCE % Chart

Bulgartabac Holding AD Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

ROCE %

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27.96

24.48

5.25

-3.36

-2.34

Bulgartabac Holding AD Quarterly Data
	Dec09	Dec10	Dec11	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16
ROCE %	Get a 7-Day Free Trial															-65.96	21.55	-6.44	-1.87	-23.64

Bulgartabac Holding AD ROCE % Calculation

Bulgartabac Holding AD's annualized ROCE % for the fiscal year that ended in Dec. 2016 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2016 )		(A: Dec. 2015 )		(A: Dec. 2016 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2016 )		(A: Dec. 2015 )		(A: Dec. 2016 )
	=	-9.569	/	( ( (674.638 - 270.348)	+	(728.83 - 316.577) )	/ 2 )
	=	-9.569	/	( (404.29	+	412.253)	/ 2 )
	=	-9.569	/	408.2715
	=	-2.34 %

Bulgartabac Holding AD's ROCE % of for the quarter that ended in Dec. 2016 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2016 )		(Q: Sep. 2016 )		(Q: Dec. 2016 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2016 )		(Q: Sep. 2016 )		(Q: Dec. 2016 )
	=	-92.976	/	( ( (670.865 - 296.365)	+	(728.83 - 316.577) )	/ 2 )
	=	-92.976	/	( ( 374.5	+	412.253 )	/ 2 )
	=	-92.976	/	393.3765
	=	-23.64 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2016) EBIT data.

Bulgartabac Holding AD (XBUL:BTH) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Bulgartabac Holding AD ROCE % Related Terms

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Bulgartabac Holding AD (XBUL:BTH) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Tobacco Products » Bulgartabac Holding AD (XBUL:BTH) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

62 Graf Ignatiev Street, Sofia, BGR, 1000

Website

http://www.bulgartabac.bg

Bulgartabac Holding AD is a cigarettes manufacturer in Bulgaria. The company is an exporter of processed Virginia, Burley & Oriental tobaccos. It supplies aromatic and semi-aromatic types of tobaccos. Its products include Victory, Class S, Femina Slim, Prestige & Welcome.

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